The Ripple price (XRP/USD) has posted significant gains over the past 24 hours, allowing it to return above the $0.55 barrier for the first time in a week.
The third-largest cryptocurrency on the market surged in yesterday’s afternoon trading, mirroring an uptrend affecting the wider digital currency market. Having opened the session at $0.528, the digital coin hit an intraday low of $0.511 in the early afternoon. However, this was followed by a strong rebound, which allowed the coin to recoup its earlier losses and finish the day in the green. Ripple surged to a three-day high of $0.547, before pulling back to finish the day at $0.537.
Ripple has managed to defend and even extend its gains during today’s session. The coin experienced a couple of dips in the early hours of the session, but it was able to resume its advance in late morning trading. At the time of writing, the Ripple price was hovering around the $0.55 mark, according to data from digital currency tracker Coinmarketcap.
Ripple’s trading volume on Thursday was around 276 million, which marked a significant improvement from the sub-$200-million levels seen over the weekend. Today’s market activity appears to be similar, with Ripple’s 24 –hour trading volume currently standing at $279 million.
Japanese crypto exchange Bitbank remains the most popular destination for XRP trades, having captured nearly 24% of the total volume. The world’s largest crypto exchange Binance ranks second with a 13.2% share, while its biggest rival, OKEx, is third with $9.9%.
In today’s trading, the Bitcoin price stood at $0.553 BST, which is the coin’s highest level since June 12. The digital currency has gained 7.7% in the past 24 hours, Coinmarketcap data shows. The coin’s market capitalization currently stands at $21.7 billion.
For further information on how to buy and trade Ripple, see our comprehensive Ripple guide.